New standard pig price launched
Details of the newly launched GB Standard pig price and commentary on pig and weaner price for the week ended 28 June.
The new GB Standard Pig Price (SPP) was launched on Wednesday 2 July. The SPP is calculated using the same basic specification as the current DAPP except that it covers standard pigs only. It will exclude pigs that attract an explicit premium for a specific attribute such as breed, feeding regime or a production system, such as Freedom Foods. Data will be collected from a wide ranging sample of processors in Great Britain. Since the contributors will be different to those contributing to the DAPP, the two series will not be directly comparable. The DAPP will continue to be published until the end of September, The SPP for week ended 28 June stood at 163.57p per kg. Figures for the previous two weeks have also been published, when the SPP was 163.44p/kg (w/e 21 June) and 164.02p/kg (w/e 14 June).
The decline from the previous two weeks reversed, as the EU spec DAPP for the week ended 28 June edged up to 163.87p per kg. The current price marked an annual decline of around 4p, although the DAPP remained considerably higher than the same period in 2012. Supplies were relatively plentiful during the week, with an estimated total of 160,400 head slaughtered, almost 8% up on the previous year. Given the warm conditions of late, average carcase weights declined for the second consecutive week to 79.03kg, on a par with the same week in 2013. The APP fell by 0.63 to stand at 165.17p per kg for the week ended 21 June. This was a slightly sharper fall than the DAPP for the same week, so the gap between the two narrowed to just under 1.5p/kg.
The 30kg weaner market ended the first half of the year at £56.39 per head, for the week ended 28 June. Weaner prices mirrored the finished pig prices in the latest week, as somewhat tighter supplies helped to push up prices. As such, the 30kg weaner price was £4 per head higher compared with the same week in 2013. Similarly, there was a small 46p week-on-week increase in the price of a 7kg weaner to £41.21 per head.